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Credit Suisse is fricked—How A Reporter Reached Out to Me in October
Posted on 3/20/23 at 7:46 am
Posted on 3/20/23 at 7:46 am
I am not sure why I am bothering to post this here. I expect more mocking of superstonkers are a bunch of "cultists" and "conspiracy theorists!". However, so much of what is on the stonk is like a time machine and a look into what is coming financially. Many of you know the feeling - politically and world event wise - who listen to Dan Bongino and Steve Bannon.
The superstonk folks are just more focused on the idiosyncratic stock risk and the effects that has and will cause.
Anyway, this guy called the Credit Suisse thing out a while ago. There were others over the last year, too, but this one was particularly interesting.
https://www.reddit.com/r/Superstonk/comments/11vzjok/credit_suisse_is_frickedhow_a_reporter_reached_out/
On a positive note, some interesting things are going down tomorrow in the gaming world.
https://www.reddit.com/r/Superstonk/comments/11w48dc/wagmi_added_to_the_count_down_now_shows_bungie/
This count down by WAGMI Games keeps adding partners; Apple, DreamWorks, BUNGIE, EA and all seems to be lining up with GameStop's earning call at the end of day. I know many of you hate NFTs, but there is a serious use case for them in the gaming world and the pieces are lining up. Immutable X has a lot of announcements tomorrow, also.
Bad mouth it all if you will, but this might be the Amazon, Apple, Google, Microsoft, McDonalds, Coca-Cola moment that you all wish you had jumped on to, but derided as flash in pan when you had the chance. Then again, maybe you are right and this won't be anything.
The GME stock is a huge bargain - IMHO - at 16.60 pre-market. Not advice, but I grab some up every week. I am curious what effect UBS trying to close out Credit Suisse's 200 million plus open GME naked shorts might have on the price.
The superstonk folks are just more focused on the idiosyncratic stock risk and the effects that has and will cause.
Anyway, this guy called the Credit Suisse thing out a while ago. There were others over the last year, too, but this one was particularly interesting.
https://www.reddit.com/r/Superstonk/comments/11vzjok/credit_suisse_is_frickedhow_a_reporter_reached_out/
On a positive note, some interesting things are going down tomorrow in the gaming world.
https://www.reddit.com/r/Superstonk/comments/11w48dc/wagmi_added_to_the_count_down_now_shows_bungie/
This count down by WAGMI Games keeps adding partners; Apple, DreamWorks, BUNGIE, EA and all seems to be lining up with GameStop's earning call at the end of day. I know many of you hate NFTs, but there is a serious use case for them in the gaming world and the pieces are lining up. Immutable X has a lot of announcements tomorrow, also.
Bad mouth it all if you will, but this might be the Amazon, Apple, Google, Microsoft, McDonalds, Coca-Cola moment that you all wish you had jumped on to, but derided as flash in pan when you had the chance. Then again, maybe you are right and this won't be anything.
The GME stock is a huge bargain - IMHO - at 16.60 pre-market. Not advice, but I grab some up every week. I am curious what effect UBS trying to close out Credit Suisse's 200 million plus open GME naked shorts might have on the price.
3
Posted on 3/20/23 at 7:58 am to GhostOfFreedom
Before anyone asks about the 200 million, it is being discussed on SS and there isn't any direct link that is currently known, just indirect evidence.
quote:
[–]hatgineer 4 points 8 minutes ago
I have no idea where the 216 came from, and I think the bagholding is based on pretty strong but indirect evidence. (I highly doubt Credit Suisse openly stated they are short GameStop, and if the did say it I definitely have not seen it.)
The best evidence I found people referred to is the pdf from Credit Suisse titled "Credit Suisse Group Special Committee of the Board of Directors report on Archegos Capital Management" which you can google and find. In it they stated:
In late January, CRM queried the Credit Control group as to why Archegos’s PE had climbed so dramatically, from approximately $32.5 million on January 6, to $331.3 million on January 26, to $721.3 million on January 27.
The timing coincides with the sneeze, so people speculated that Archego's potential exposure (PE) includes our stock. Credit Suisse bought out Archegos, so that bag is being held by Credit Suisse now, and soon by UBS, apparently.
Edit: If anyone has more solid evidence, please post. This saga has gone on for a long time, it's helpful to link some old DD/technical data.
https://www.reddit.com/r/Superstonk/comments/11whodf/where_did_this_216_million_short_position_from_cs/
Posted on 3/20/23 at 8:31 am to GhostOfFreedom
It wasn't just Superstonk calling out Credit Suisse in the Fall. They've been teetering for a long time. SVB was the somewhat surprising, "out of left field" in the grand scheme of things.
CS failing today would not be a surprise and wouldn't have been since Fall 2022 or longer ago.
CS failing today would not be a surprise and wouldn't have been since Fall 2022 or longer ago.
Posted on 3/20/23 at 8:42 am to GhostOfFreedom
quote:
Credit Suisse is fricked—How A Reporter Reached Out to Me in October
So a reddit dude blogged about CS teetering on the precipice at a time where everyone in finance warned CS was teetering on the precipice. Not exactly a Nostradamius moment, FWIW. Then the Saudi's stepped in with $1.5B for a temporary CS reprieve. The Saudis lost their arse on that deal.
WTF does any of that have to do with GME, or CS shorts? If CS has shorts, they are still in play. If someone here is heavily "invested" in GME, good luck.
What does any of it have to do with politics?
Posted on 3/20/23 at 1:30 pm to NC_Tigah
It's so, so fricking dumb.
Everyone knew Credit Suisse was in trouble in October.
Their CDS yields were crazy if you went on Bloomberg back in October.
Nothing compared with 2008 CDS yields but Credit Suisse has been in trouble for a long time.
My firm's had a sell position on it for a long, long time (earlier than October). Only thing we didn't expect was that AT1 bondholders would be screwed compared with equity holders. I could probably attach a screenshot for proof but I'd be violating all sorts of rules and standards of conduct.
I was in a call with a sales team from a bank this morning and she pointed out that they've known about Credit Suisse being in trouble for years.
This isn't genius - it's the obvious lol. CDS yields would have told you they were in trouble in October.
Honestly, institutional investors have access to so much information that retail investors don't that I didn't realize this wasn't common knowledge
Everyone knew Credit Suisse was in trouble in October.
Their CDS yields were crazy if you went on Bloomberg back in October.
Nothing compared with 2008 CDS yields but Credit Suisse has been in trouble for a long time.
My firm's had a sell position on it for a long, long time (earlier than October). Only thing we didn't expect was that AT1 bondholders would be screwed compared with equity holders. I could probably attach a screenshot for proof but I'd be violating all sorts of rules and standards of conduct.
I was in a call with a sales team from a bank this morning and she pointed out that they've known about Credit Suisse being in trouble for years.
This isn't genius - it's the obvious lol. CDS yields would have told you they were in trouble in October.
Honestly, institutional investors have access to so much information that retail investors don't that I didn't realize this wasn't common knowledge
This post was edited on 3/20/23 at 1:30 pm
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